Ontario invests $10 million in auto parts companies to boost supply chain competitiveness
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The projects will help position the province as a hub for building cars of the future.
The Ontario government is investing $10 million in auto parts companies through the Ontario Automotive Modernization Program (O-AMP) in a move intended to boost competitiveness and position Ontario as a North American hub for building the car of the future.
Funding awarded so far will leverage $25.8 million in industry investments.
“The strength, innovation and quality of our automotive supply chain has been essential in attracting almost $6 billion in new vehicle assembly investments to Ontario,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “O-AMP provides targeted support to help auto parts manufacturers make critical investments in technology and training to enable them to keep ahead in a globally competitive industry.”
O-AMP was launched in September 2019 as part of “Driving Prosperity: The Future of Ontario’s Automotive Sector,” the government’s plan for the auto industry. More than 100 projects are either underway or in the pipeline and will create about 570 jobs.
Examples of O-AMP projects include:
Global Plas Inc., Concord
The company makes interior, exterior and under-the-hood plastic components used in the auto industry. Global Plas invested in new injection molding technology and an automation system that increases production efficiency while reducing material wastage costs, enabling the company to expand its business. O-AMP funding of $87,210 was matched by an investment by Global Plas of $105,957. The project has assisted Global Plas to add 36 new jobs.
Kinto Canada Ltd., Windsor
The company makes connectors and fixtures used in the automotive industry (including electric vehicles), electric locomotives, renewable energy and power transmission. Kinto Canada invested in technology to automate and digitize some of the company’s machining and grinding processes. O-AMP funding of $100,000 was matched by an investment by Kinto Canada of $141,607, helping to retain eight jobs.
Listowel Technology, Inc., Listowel
The company produces plastic molded parts for the Honda Civic and CRV. Listowel Technology invested in advanced production technology using lean manufacturing processes to secure additional work building the centre panel for the 2022 Honda Civic program. O-AMP funding of $100,000 was matched by an investment by Listowel Technology of $441,334. The project has assisted the company to add 28 new jobs.